Pell Grant: Gates Millennium Questions?

Archive The Gates Scholarship
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<p>Hello, so I was considering applying for the Gates Millennium Scholarship and I noticed that if you're picked as a finalist, you have to be eligible for the pell grant? I believe that I meet all the other requirements but the total income may be my problem. Do they look at the family's gross or net income? What's the cutoff family income? The annual income for my family is around $75,000 dollars, would I still be eligible? Otherwise there's really no point in looking into the gmsp.</p>

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<p>My father just told me that the taxable income, aka the net income, would be around $60,000 in the 2014-2015 year when I apply. Would I be eligible for the pell grant?</p>

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<p>See <a href=“https://scholarships.gmsp.org/Program/Details/7d6e42b1-d063-4bd2-a977-057b290e2708[/url]”>https://scholarships.gmsp.org/Program/Details/7d6e42b1-d063-4bd2-a977-057b290e2708&lt;/a&gt;

You should try FAFSA4caster. See <a href=“https://fafsa.ed.gov/FAFSA/app/f4cForm?execution=e1s1[/url]”>https://fafsa.ed.gov/FAFSA/app/f4cForm?execution=e1s1&lt;/a&gt;.

which include Pell grant.</p>

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<p>Your EFC, on which Pell eligibility is based, is calculated using adjusted gross income, not taxable income.</p>

<p>If you will be the only child in the family enrolled in college, I would not expect you to be Pell eligible with a parent income of $70k. If you have a sibling in college, it is possible you will be Pell eligible.</p>

<p>But you should run some calculators to get a more definitive idea.</p>

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<p>You have to be eligible for pell grant to get the gms though right? So if I wasn’t eligible, I should just give up on that? It would be a waste of time trying for the scholarship then.</p>

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<p>If you do not qualify for the pell grant, you will be automatically disqualified from receiving the Gates Millennium Scholarship.</p>

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<p>Okay, well my family’s adjusted gross income is around 80k and after taxes it is 64k. I have two siblings, one of which is married and out of the house. My other sibling has finished college and is working, but I think he is still “Dependent”. Would I still have any chance of being eligible or not?</p>

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<p>I don’t think your sibling who is out of college and is working is considered a dependent. Sorry to break it to you, but I’m fairly sure you will not be eligible for the pell grant.</p>

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<p>After tax does not matter for FAFSA, it is the AGI that matters. Your siblings will not reduce your EFC. They would have to be dependent for FA purposes and be in college at least half time.</p>

<p>The EFC cut off for the Pell is around 5,000. Your EFC will probably be over 10,000.</p>

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<p>Huh, well that sucks then. Thanks for your replies. They cleared up a lot. I’ll have to find another scholarship.</p>